Common use of Restrictions on the Issuer Clause in Contracts

Restrictions on the Issuer. Unless the Issuer has paid all accrued and payable interest on the Notes, the Issuer will not: (a) declare any distributions on any common shares, preferred shares or Parity Indebtedness of the Issuer; (b) redeem, purchase or otherwise retire any common shares, preferred shares or Parity Indebtedness of the Issuer (except pursuant to any purchase obligation, retraction privilege or mandatory redemption provisions attaching to any preferred shares of the Issuer); or (c) make any payment to holders of any Parity Indebtedness in respect of interest not paid on such Parity Indebtedness; provided, that the foregoing does not restrict the Issuer from (i) issuing any common or preferred shares in connection with any such distribution, redemption, purchase or retirement or (ii) making any distributions or paying any indebtedness or other obligations that are owing to the Partnership or any subsidiary of the Partnership; and provided, further, that the foregoing clauses (a) and (c) shall not apply in respect of any pro rata dividend or distribution or any other payment on any Parity Indebtedness which is made with a pro rata payment of any accrued and payable interest with respect to the Notes.

Restrictions on the Issuer. Unless the Issuer has paid all accrued and payable interest on the Notes, the Issuer will not: (a) declare any distributions on any common shares, preferred shares or Parity Indebtedness of the Issuer; (b) redeem, purchase or otherwise retire any common shares, preferred shares or Parity Indebtedness of the Issuer (except pursuant to any purchase obligation, retraction privilege or mandatory redemption provisions attaching to any preferred shares of the Issuer); or (c) make any payment to holders of any Parity Indebtedness in respect of interest not paid on such Parity Indebtedness; provided, that the foregoing does not (i) restrict the Issuer from (i) issuing any common or preferred shares in connection with any such distribution, redemption, purchase or retirement or (ii) making any distributions or paying any indebtedness or other obligations that are owing to the Partnership or any subsidiary of the Partnership; and provided, further, that the foregoing clauses (a) and (c) shall not apply in respect of any pro rata dividend or distribution or any other payment on any Parity Indebtedness which is made with a pro rata payment of any accrued and payable interest with respect to the Notes.